Review of Budget 2019
Just last Monday, the Budget 2019 was delivered by Finance Minister (and probably Prime Minister designate) Heng Swee Keat. This budget was long awaited as rumours of a General Election would be coming soon. I did think prior to this budget that this budget would be indicative of whether the GE will be held this year or next. To sidetrack a bit, while I have been following the Budget for a few years (thankfully I've started to understand the Budget more and more), Budget 2018 was a significant one for me. First, it was when Minister Heng announced the increase in GST from 7% to 9% in the next term of Parliament (2021-2025), and the immediate increase of 10% of the excise duty of all tobacco tax. Secondly, it was announced the day before my enlistment, so I was just lying on my bed feeling depressed before my impending doom. Before I begin my recap and (attempted) analysis of the Budget, please note that what I present is not whole for 2 reasons. If I were to cover the...